Viatical Settlement North Carolina

There are many benefits of entering into a viatical settlement. However, the two most common reasons people do it are for the money and to ease the burden on their loved ones.

Some other benefits include:

• No medical exams are required
• You can use the money however you want
• It’s a speedy process
• You can choose the settlement company you want to work with

American Life Fund is one of the leading viatical settlement companies serving the citizens of the USA. We have helped many people through this difficult time in their lives.

The payout you receive from a viatical settlement is based on several factors, including but not limited to:

• The death benefit of your life insurance policy
• Your health condition
• The type of life insurance policy you have

These are just a few of the factors that will affect your payout. For an accurate and free quote, call us at 877-590-4088, and one of our expert representatives will be more than happy to help you.

Not sure if a viatical settlement is a right move for you or your loved one? Here are some things to keep in mind.

Here are a few examples of how people have used their viatical settlement payouts:

• John had a life insurance policy with a $500,000 death benefit. He was diagnosed with terminal cancer and decided to enter a viatical settlement. He received a payout of $300,000 and used the money to travel and spend time with his family members.
• Mary had a life insurance policy with a $250,000 death benefit. She received $150,000 and used the money to pay for her medical expenses and treatments.
• Mike had a life insurance policy with a $150,000 death benefit. He received $90,000 and used the money to pay off his debts.

As you can see, viatical settlements can be very beneficial for seriously ill people who need financial assistance.

When looking into viaticals, you may hear the term “viatical life settlement” thrown around — but viatical settlements and life settlements are two separate transactions. A life settlement is similar to a viatical settlement, but the two have several key differences.

How do life settlements work?

• A life settlement is a transaction that occurs when an individual over 75 sells a life insurance policy to a settlement provider for cash, usually yielding considerably more than the policy’s surrender value.
• The size of a life settlement payout is mostly determined by the policyholder’s health status and the premium payments of the policy. The money from selling life insurance policies can be used to finance long-term care, medical procedures, travel, or family events.
• Many people are unaware they can sell their life insurance policy for cash. When a policy becomes too expensive or unnecessary, the owner typically lets it lapse without knowing there is another option—the life settlement market.

Not sure if a viatical settlement is right for you? Here are some other options to consider

With life insurance policies increasing daily, it’s important to consider all options before deciding. For those with a chronic or terminal illness – selling your policies may be one way to afford quality care while still securing a financial cushion that will help you improve your quality of life.

If you or a loved one is facing a life-threatening illness and needs a Viatical Settlement, please call us at 877-297-4592 to see how we can help.

Are you or a loved one facing a life-threatening illness and grappling with financial burdens in North Carolina? Viatical settlements offer a solution, allowing policyholders to access a portion of their life insurance policy’s value ahead of time.

This financial option provides immediate cash that can be used to cover medical expenses, living costs, or any other needs, easing the financial stress during a challenging period. Here, we’ll guide you through the basics of viatical settlements in North Carolina, highlighting how this option can bring peace of mind and financial relief.

Alamance, Alexander, Alleghany, Anson, Ashe, Avery, Beaufort, Bertie, Bladen, Brunswick, Buncombe, Burke, Cabarrus, Caldwell, Camden, Carteret, Caswell, Catawba, Chatham, Cherokee, Chowan, Clay, Cleveland, Columbus, Craven, Cumberland, Currituck, Dare, Davidson, Davie, Duplin, Durham, Edgecombe, Forsyth, Franklin, Gaston, Gates, Graham, Granville, Greene, Guilford, Halifax, Harnett, Haywood, Henderson, Hertford, Hoke, Hyde, Iredell, Jackson, Johnston, Jones, Lee, Lenoir, Lincoln, McDowell, Macon, Madison, Martin, Mecklenburg, Mitchell, Montgomery, Moore, Nash, New Hanover, Northampton, Onslow, Orange, Pamlico, Pasquotank, Pender, Perquimans, Person, Pitt, Polk, Randolph, Richmond, Robeson, Rockingham, Rowan, Rutherford, Sampson, Scotland, Stanly, Stokes, Surry, Swain, Transylvania, Tyrrell, Union, Vance, Wake, Warren, Washington, Watauga, Wayne, Wilkes, Wilson, Yadkin, and Yancey.

In North Carolina, the necessity for financial solutions like viatical settlements is significant, particularly among the older population and those facing severe health issues. Approximately 16% of the state’s population, which translates to around 1.6 million people, are aged 75and older. 

These individuals often deal with multiple health challenges that result in substantial medical costs. Every year, an estimated 56,000 North Carolinians receive diagnoses of life-threatening diseases such as cancer, heart disease, and chronic respiratory conditions. 

While the cost of living in North Carolina is about 5% below the national average, many individuals, especially retirees and those on fixed incomes, find it difficult to cope with unexpected healthcare expenditures. 

The average annual income from pensions and Social Security in the state is around $25,000, often insufficient to cover the combined costs of living and medical care in the face of a serious illness. 

According to a study on the Prevalence and Medical Costs of Chronic Diseases Among Adult Medicaid Beneficiaries, Costs among beneficiaries with cancer were $29,384–$46,194 for the 6 months following diagnosis. Clearly a monthly pension is not enough to handle everything.

Viatical settlements provide a crucial financial option, allowing residents to access their life insurance benefits early and obtain the necessary funds to cover these pressing expenses.